Shar

I also had a lot of trouble getting info on the best way to buy ppties in NZ.

I have now bought them in a NZ Family Trust, however, you have to be careful that you don’t control the TRust or the ATO will consider it as being an Australian Trust and therefore need to put in a tax return for the Trust in Aust. What I have done is set up…[Read more]

I went to one of their meetings a couple of years ago and were quite interesting. By what I have read about them, if you are too hesitant to get into property investing on your own…[Read more]

Shar

I really couldn’t say how long it took as actually bought 2 properties while in the process of setting up (which were bought in the Trust name). Also wasted alot of time to-ing & fro-ing with emails to solicitor and accountant in NZ, speaking to Sydney accountants and ATO trying to work out if it was the correct way to go. Probably…[Read more]

My costs were as follows:

All NZ $ plus GST

Setup Trust $850
Setup company $600
Transfer property to trust $600 each
Ongoing administration costs approx $500p.a.

Shar

To overcome this, we have setup a NZ Corporate…[Read more]

Nobleone – possibly the problem you have with tradies at present is because of the housing boom in NZ – builders and all others tradies are flat out with work. Things should improve as the housing boom slows down and then I think you will find the NZ…[Read more]

I’m hoping to go there in mid-June but am trying to get as much info as possible before then.

Shar

Fat Shar

And the ice creams are as huge as ever!

Shar

I’m originally from Taranaki and when I was over there late last year I looked around New Plymouth but the prices had risen too much for a decent rent return. I had thought I might get something in Inglewood as I remember property being pretty cheap there but the prices had already risen too much.

Sadly I looked at Hawera but there was…[Read more]

Out of all the wonderful information I have obtained from the Forum, this topic has been the one that has inspired me the most!

And the best reply for me was the one from…[Read more]

Shar

Have you checked the KPI magazine. They have heaps of interesting statistics every month.

Shar

We were also seen as “maxed out” by banks here in Oz.

Wanted to start investing in NZ so applied to ANZ in NZ and got knocked back. Also applied to Premier Mortgages over there but were also knocked back.

Then tried Mortgage Link in Taranaki. They got approval from ASB there for us to buy 2 properties and then only didn’t approve the…[Read more]

The first time my English husband saw a weta in the house he had to change his undies!

Weta – extra large, brown insect looking abit like a grass hopper but also looks extremely scarey.

Hoohoo bugs (don’t know spelling) or called hardbacks. Large moth like creature with hard wings like…[Read more]

I also love skylights! Not those little round ones that look like a light is always on in the room, but a great big one 1 metre x 1 metre or bigger preferably in the kitchen of dark houses! Makes the place so much more livable.

Shar

Thanks for your lengthy and enlightening answer!

“In answer to GP, there are some differences in NZ trust law compared to other jursidictions, the main difference being that the tax residence of NZ Trusts depends on that of the settlor, whereas other trust jurisdictions depend on that of the trustees.”
As myself and my husband…[Read more]

No they didn’t mentioned the 50% discount.

I spoke to Nick at Strategicwealth who Simon Macks often recommends on this Forum. He is a very helpful chap. Unfortunately though he doesn’t deal with overseas investments. He put me onto another accountant who specialises in overseas income. He isn’t sure about the trust thing and is…[Read more]

Regarding LAQCs, I was told they are no good for non-residents of NZ?

Shar

I don’t have a problem paying tax in Oz on monies received from NZ. I would expect this to be included in my normal tax return as foreign income. However, what I’m trying to avoid is having to lodge a separate return here in OZ for the trust and then having to pay my…[Read more]

I…[Read more]

I might put this question into the Help section to see if I can get some more answers.

I am also keen on Christchurch and would love the same info as Sharon has asked.

Shar

Shar

I do bookkeeping for some developers – if you PM me I can put you in touch with them if you are in the right area.

I don’t know alot about the developing side but have learned enough to know it is a helluva lot of work and you need a lot of expertise to try and do it yourself!

Shary

These can be a good buy if the builder needs the…[Read more]

I am an Australian resident with 1 IP in NZ and currently purchasing a 2nd one.

Can’t help you with the tax rate but you could check out http://www.ird.govt.nz. The Inland Revenue Department is the NZ equivalent of the tax dept here.

Yes you will need to put in a tax return in NZ so will be best to use an accountant there to do it for you.…[Read more]

I can relate very well to your problem as also have a granny flat we rent out. And yes, the smoke does seem to filter upstairs! We have always advertised as “non-smoker” although local newspapers insist on putting “non-smoker preferred”. We have had many tenants over the years and one or two who said they were non-smokers turned…[Read more]

Sharyn

Hi Lazyboy

I’m originally from New Plymouth many years ago – actually grew up in Inglewood. How are property prices in Inglewood these days? Any good for investing? Lovely little town and such a short commute to New Plymouth.

Shar

I see you have had lots of great replies to your problem and hopefully have done something by now.

However, one question I would like to ask before you rush into getting rid of the tenant, “is the rent he is paying a good rent in the current market and are there lots of properties like yours looking for tenants at the moment?” If…[Read more]

Unfortunately the commissions are low so alot of agents go for volume to make their money but then are not able to service the properties & tenants as well as you would hope as…[Read more]

The reason I mentioned NSW is that I live and work here and evidentally want to buy IPs here.

I originally thought I ought to have the right structure set up here, however, after reading all above, I realise I can probably forget about anything here and just look at whether I need to set up a trust structure in NZ whilst buying IPs…[Read more]

I too am looking for an accountant in Sydney with this knowledge. I will put a new topic on the Forum to ask the question.

Good luck in NZ. You will find it abit of a culture shock moving from Sydney but just enjoy the slow pace and you will learn to love it!

Shar

I will keep investigating. I definitely want to buy more than one property and so want to get things right to begin with.

Does anyone know a “property savvy” accountant in Sydney? (I’m in the North West of Sydney). I don’t think my accountant would be much help!!

Re the land tax threshold, I thought the new laws in NSW mean you…[Read more]

Agencies don’t earn much on PM commissions and therefore alot just concentrate on volume to make money and frankly it can be very difficult to maintain a very…[Read more]

Does anyone know of a good solicitor in NZ? Preferably around Wellington?

Shar